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12 Mar 2015

EUR/USD consolidates above 1.0600

FXStreet (Edinburgh) - The single currency is now looking to consolidate the recent break above the 1.06 handle vs. the dollar, with EUR/USD meandering around 1.0630 so far.

EUR/USD stronger on risk, USD weakness

The selling mood around the greenback is not giving up so far, bolstering the better tone in the pair, which is now trying to cement the recent breakout of 1.06 the figure. The pair managed to shrug off the initial weakness that sent the euro to test fresh 12-year lows at 1.0494 overnight, advancing since then along with a rising profit-taking bias in the USD.

Poor US retail sales during February added to the USD softness, with the Reuters/Michigan index due tomorrow as the only relevant release left in the week (95.5 exp. in March).

EUR/USD levels to consider

The pair is advancing 0.68% at 1.0619 with the next hurdle at 1.0718 (high Mar.11) followed by 1.0757 (100-h MA) and then 1.0855 (high Mar.10). On the downside, a breach of 1.0494 (12-year low Mar.12) would expose 1.0335 (2003 low Jan.2) and finally 1.0207 (low Dec.19 2002).
Mar 12, 2015

Gold erases gains as US stocks rally

Gold prices erased gains, tracking sharp gains in the major equity indices in the US. The metal was already under pressure after an upbeat weekly jobless claims data.
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Mar 12, 2015

United States Business Inventories below forecasts (0.1%) in January: Actual (0%)

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